2x Bitcoin Strategy ETF (NYSEARCA:BITX) Stock Price Down 7.3% – Here’s Why

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) were down 7.3% during mid-day trading on Monday . The company traded as low as $49.31 and last traded at $49.35. Approximately 4,445,056 shares changed hands during trading, a decline of 33% from the average daily volume of 6,681,852 shares. The stock had previously closed at $53.24.

2x Bitcoin Strategy ETF Trading Down 4.8 %

The company has a fifty day moving average price of $51.23 and a 200 day moving average price of $37.67.

2x Bitcoin Strategy ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 16th were paid a $0.5768 dividend. The ex-dividend date of this dividend was Monday, December 16th.

Institutional Investors Weigh In On 2x Bitcoin Strategy ETF

A number of institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new stake in 2x Bitcoin Strategy ETF during the 2nd quarter valued at about $40,000. VitalStone Financial LLC boosted its stake in 2x Bitcoin Strategy ETF by 128.3% during the second quarter. VitalStone Financial LLC now owns 3,595 shares of the company’s stock worth $114,000 after acquiring an additional 2,020 shares in the last quarter. Finally, Graypoint LLC increased its stake in shares of 2x Bitcoin Strategy ETF by 23.1% during the third quarter. Graypoint LLC now owns 13,537 shares of the company’s stock valued at $386,000 after purchasing an additional 2,536 shares in the last quarter.

2x Bitcoin Strategy ETF Company Profile

The 2x Bitcoin Strategy ETF (BITX) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures Daily Roll index. The fund aims to provide 2x the daily price movements of an index based on rolling front-month CME bitcoin futures. BITX was launched on Jun 27, 2023 and is managed by Volatility Shares.